Thought it might be worth making a cheat sheet for anyone considering taking up the rights issue. There is no advice here as to what holders should do, just the facts.
Important datesEx date – 29 January
Record date – 30 January
Opening date – 2 Feb
Closing date (unless extended) – 19 Feb
AllocationOne new share for every 12 shares currently held at the record date, plus one free option for every two new shares.
How to apply and payAccess your personalised Entitlement and Acceptance Form at
https://events.miraqle.com/IVZ-offer (note this form isn’t accessible until the offer is open).
Payment can be made by the methods set out in Section 2.3.
If you pay by BPAY, you do not need to return the Entitlement and Acceptance Form.
ShortfallA separate offer open for up to three months after the rights issue closing date. Any allocations not taken up by holders will form the shortfall offer. To subscribe for shortfall shares complete the relevant section on the Entitlement and Acceptance Form. Shortfall shares will be allocated to
- current eligible holders who have applied for shortfall
- “other parties identified by the Directors, which may include parties who are not currently Shareholders.”
*This is where the dirty games come into play with possible SP manipulation to convince people not to take their allocation, leaving insto’s able to accumulate the excess shortfall (my opinion only).
There are no guarantees of any or all shortfall shares applied for being granted.
Choices-Take up all allocation plus apply for a shortfall amount of your choosing (no guarantee you will get any/all of the shortfall
-Take up allocation only
-Take up part allocation amount of your choosing
-Not take part
*All shareholders considering taking part in this offer should read the prospectus to ensure they have all available information.
